Arkansas Best Corporation, parent of ABF Freight System, reported its profit in the third quarter of 2012 was $6.52 million, down 46.9 percent compared with last year’s third-quarter profit of $12.27 million.
Profit in the first nine months of 2012 was $0.20 million, slumping 96.0 percent from $4.93 million in the same period in 2011.
Quarterly earnings (EBITDA) were $41.42 million, relatively stable compared with last year’s $41.53 million. Year-to-date earnings were $78.56 million, up from $75.12 million in 2011.
The freight transportation service provider moved 12,463 tons per day in the quarter, down 1.4 percent from 12,635 tons per day during the same period last year.
Negotiations with the Teamsters National Freight Industry Negotiating Committee will begin on Dec. 18, the company said.